British retail sales edged up unexpectedly in July, helped by the strongest grow...
LONDON, - British retail sales edged up unexpectedly in July, helped by the strongest growth in online spending in three years, suggesting consumers continued to support the economy ahead of the Oct. 31 Brexit deadline.
Compared with July 2018, sales were up by 3.3%, slowing from robust growth of 3.8% in June. The Reuters poll had pointed to annual sales growth of 2.6%. The figures contrasted with a British Retail Consortium survey that showed spending fell in the year to July at the fastest pace on record for that month.
However, household goods stores reported their biggest monthly drop in sales in two years, down 5.4%, with anecdotal evidence that warm weather had kept shoppers out of furniture and lighting stores.
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